Turnover is something all businesses should want to avoid. Having to frequently hire and train new employees can be costly and a drain on productivity. Turnover also takes a toll on the morale of remaining employees. If your company’s turnover rate is high, take notice and start doing something about it. High turnover rates are a sign that something is seriously wrong within your company and driving employees away. Happy employees are loyal employees and will stick around.
What are some causes of high turn over and poor morale? Start by looking at your supervisors and managers. Ask for honest feedback from your employees and listen to it. Let them provide it anonymously if they want. If you’re getting a lot of complaints about a certain manager or supervisor, that’s a red flag you must pay attention to. While some people are great at business, their people management skills leave a lot to be desired. Inflexible, demanding or abusive supervisors or managers are a top cause of turnover and poor morale. If you have a manager or supervisor who is making your employees miserable, take action!
The next thing to do is look at your own policies and behavior. Are you asking too much of your employees? Expecting them to put their job ahead of everything, even their families or health? Do you not offer sick days? Vacation time? Are you inflexible with scheduling or lack empathy when issues arise? Are you guilty of taking out your frustrations on them? Being reluctant to provide proper training or tools because of cost? Is the area your employees are expected to work in comfortable? Are complaints, especially those regarding harassment taken seriously? Consider all of these questions carefully and answer them as honestly as possible. If the answers are not positive, take action.
Finally, take a look at the benefits you offer. Good healthcare benefits have never been more important than they are today. The same goes for solid retirement benefits. If yours are weak in this area, chances are your employees will jump at the chance to work for a company that has better ones. Find out more here and if your offerings are solid, what about educational benefits? These are important too. Tuition reimbursement or assistance programs are quite valuable to many employees. They appreciate knowing you are willing to invest in them, and doing so can bring innumerable benefits back to you.